Innovation Vouchers

Prof Chris BirchUniversity of Greenwich, London

birch.greenwich@gmail.com

“BENEFITS is part-funded by the European Union, via the Channel area Inter-Reg IVA programme and ERDF Funds”

What is an Innovation Voucher?

• Why do them?–Economic Benefits–Academic Benefits

• Demand for the vouchers exceeded supply by a factor of 3• 46% of SME had no previous experience of working with a

University• 56% continue to work with the same or different University

in the West Midlands• Total net additional economic impacts include 85 jobs

created / safeguarded and £5.9 million in GVA• A return on investment of £11.89 for each £1 of public

sector funding, higher than the national average for science, R & D, innovation interventions of £8.30.

Aston University Headline Statistics (2010):

Scottish Universities Statistics (2010):• 55% of businesses did not have a ‘close relationship' with the higher

education sector prior to the Innovation Vouchers Scheme• A total of 60% of businesses said they had never participated in a joint

project with a HEI before.• 87% of businesses found the application process either ‘easy' or ‘very easy'.• Of the businesses involved with Interface, 75% found the assistance provided

‘very helpful' and 25% found it ‘helpful'.• In general, the application process was regarded as very straightforward -

simplicity of the application process and the lack of bureaucracy involved.• Several respondents were also impressed by the speed of the decision

making process.• Perceptions of working with Higher Education - all of the businesses said that

the project they were involved with had either met (65%) or exceeded (35%) their expectations.

Promise

Pedagogy

People

Promotion

Product

Price

Place

projection

professional

perception

packaging

portability

performance

personalise

physical resourcespartnership

participation

processes(business)

processes(academic)

Table 3Marketing Variables for HEIs© C J Birch 2010

differentiation

Capacity

Commitment

Capability

Credibility

Business

UniversitySo

ciety

Multi-Dimensional Partnerships

Multi-Dimensional Partnerships

curio

uscreative

clev

er

confident

critica

l

Our graduates need to be …

imaginative

inspired

ideas

innovative

inventiveingenious

imaginative

They also need to be …

Enterprising

Experienced

Entrepreneurial

EngagedEducated

EMPLOYABLE

Society needs our graduates to be …

Thank You